Review on Chainlink by Olugbenga Ajayi
Chain link link smart contracts to the real world
Chainlink is an ethereum based platform that link blockchain based smart contract and the real world application. Before now applications built with blockchain technology can only access the records of data in the blockchain.
Chain link transformed this trend by bringing in a real world data base engine known as Oracle. Through the Oracle external data in different forms e.g temperature, weather, financial record etc can be injected into smart contract to provide a information that is faultless and accurate.
Chain link engaged the service of Oracle node operators who regularly respond to smart contract calls and supply the needed data from Oracle network and get rewarded with the chain link token known as 'Link'. Link is a form of erc-20.
Chain link is a project with foresight and innovation.
It also worth mentioning that Link has recently enjoy sharp leap and it's fan base has also increased.
As they bring in the best database management tool 'Oracle' into smart contract solutions, I believe businesses, corporations and public offices will benefit from the synergy. We know that information is the lifeblood of every industry and having access to right information can not be over emphasized.
Pros
- It is a project that gives data integrity preference
- The token is increasing in value recently giving investors value
Cons
- The fact that emanates from third party Oracle operators could also breach the integrity of the data
